News

Secure Act 2.0 Highlights

The Secure Act 2.0 was signed into law in December 2022 as part of the Consolidation Appropriations Act of 2023. Below are some of the highlights from the Secure Act 2.0.

Automatic 401(k) deferral ...

Final 2022 Estimated Tax Payments Due

The due date for your final 2022 estimated tax payment(s) is approaching! Be sure to mail or make your estimated tax payment(s) online by January 17, 2023.

As a reminder...

Taxes are normally ...

Deferred Payroll Taxes Due December 31, 2022

Businesses have until December 31, 2022, to complete payment on deferred payroll taxes from 2020.

The Coronavirus, Aid, Relief and Economic Security Act (CARES Act) allowed employers to defer the ...

New IRS Regulations for 2023

The IRS has recently released updated regulations regarding the contribution and plan limits for retirement plans and cafeteria plans for 2023. The new regulations allow for ample opportunity to save ...

Work Opportunity Tax Credit

The Work Opportunity Tax Credit (WOTC) is a Federal tax credit available to employers for hiring and employing individuals from certain targeted groups who have faced significant barriers to ...

Social Security & Medicare Updates 2023

Social Security Benefits Increase and Medicare Premiums Decrease in 2023

Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase by 8.7 ...

Filing Frequency Notices

Every fall, the IRS and the state in which your business resides will review whether your filing frequency requirement for withholding taxes (and for sales and use tax and other specialty taxes in ...

Beware of ERC Schemes

From irs.gov:

The IRS has warned employers to be wary of third parties who are advising them to claim the Employee Retention Credit (ERC) when they may not qualify. Some third parties are taking ...

The Importance of a Secondary Officer

While not the most pleasant topic for a business owner to think about - you need to. It's imperative that you have a "back-up" plan for your corporation. Every corporation should have a second officer ...

Extended Tax Returns Due 10/17

Extended but haven't filed your 2021 personal tax return yet? You have a couple of days left! Taxpayers who requested an extension to file their 2021 tax return have until Monday, Oct. 17 to file to ...